SYITF - SYITF STOCK NEWS

Synex Renewable Energy (TSX: SXI) has completed a non-brokered private placement financing, issuing 308,988 common shares at $1.78 per share, raising gross proceeds of $549,998.64. The company plans to use the funds for working capital and general corporate purposes. The issued shares are subject to a four-month hold period.

The offering involved insiders and is considered a 'related party transaction' under MI 61-101. Synex is relying on exemptions from formal valuation and minority shareholder approval requirements. Daniel J. Russell, through a controlled entity, purchased 293,371 shares for $522,200.38, increasing his ownership to 62.25% of outstanding shares on a partially diluted basis.

Synex Renewable Energy (TSX: SXI) announced the closing of its previously disclosed sale of the Bouleau Mountain Wind Project in British Columbia, Canada. The transaction, executed through its subsidiary Sea Breeze Power Corp., has a purchase price of approximately $4.7 million, contingent on securing an electricity purchase agreement (EPA), plus a 1% royalty on the project's gross revenue.

Upon closing, the buyer made an initial cash payment of $400,000. The remaining balance will be paid as the project reaches specific milestones, including obtaining an EPA with BC Hydro and commencing commercial operations. The project has been submitted to the BC Hydro Call for Power 2024 RFP, with expectations of achieving commercial operations within the next four to seven years.

Synex Renewable Energy (TSX: SXI) has released its financial results for Q4 2024, ending June 30, 2024. The company reported a decrease in revenue to $643,194 from $713,649 in Q4 2023. Electricity sales dropped to $584,140, down from $731,698 in the previous year, primarily due to lower precipitation. The company recorded a net loss of $482,192, compared to a $209,980 loss in Q4 2023, mainly attributed to reduced power generation caused by unfavorable weather conditions.

Synex invested $648,566 in developing investigative wind licenses at Sea Breeze Power Corp. The company's unrestricted cash balance decreased to $117,362 from $318,663 year-over-year, largely due to fixed asset upgrades and maintenance work. Total loan principal outstanding was $13,080,196 as of June 30, 2024, down from $13,715,388 the previous year.

Synex Renewable Energy (TSX: SXI) has announced the sale of its Bouleau Mountain Wind Project in British Columbia, Canada, through its subsidiary Sea Breeze Power Corp. The project will be sold to a leading renewable energy company for approximately $4.7 million, subject to an electricity purchase agreement (EPA) with BC Hydro, plus a 1% royalty on gross revenue.

The transaction includes an initial payment of $0.4 million upon closing, with the remaining balance paid as the project achieves specific milestones. Synex expects the deal to close in Q3 2024, subject to regulatory approvals. This sale is part of Synex's strategic review to enhance shareholder value and showcases the potential of their wind license portfolio acquired in 2021.

Synex Renewable Energy reported its financial and operational results for Q3 2024, ending March 31, 2024. Revenue increased to $929,547, up from $864,645 in Q3 2023. Electricity sales rose to $915,276 from $839,053 in the previous year. Net loss narrowed to $58,898, compared to $213,803 in Q3 2023. Net loss per share decreased to $0.01 from $0.05. The company spent $563,262 on developing wind licenses from Sea Breeze Power Corp. Unrestricted cash rose to $451,091, driven by higher sales and a private placement. Restricted cash was $766,476, and term deposits were $230,000. Total loans payable decreased to $13.42 million from $13.72 million in June 2023.

Synex Renewable Energy Corporation (TSX: SXI) reported positive financial results for Q2 2024, with revenue increasing to $972,718 and net income reaching $83,663. The company focused on reducing costs and investing in wind licenses to support clean energy initiatives. Cash balances grew due to higher sales revenue and a successful private placement. Sea Breeze's expansion plans could potentially add over 150 MW of clean electricity.

Synex Renewable Energy Corporation (SXI) Reports Annual General Meeting Voting Results

Synex Renewable Energy Corporation (SXI) has closed a non-brokered private placement financing, issuing 355,507 Common Shares at $1.75 per share, generating $622,137.25 in gross proceeds. The company plans to use the funds for wind project development, working capital, and general corporate purposes.

Synex Renewable Energy Corporation (TSX: SXI) announced its financial and operational results for the three months ended September 30, 2023. Revenue for Q1 2024 decreased to $139,086 from $165,898 in Q1 2023. Electricity sales in Q1 2024 were $124,814 compared to $139,770 in Q1 2023, with a net loss of $745,899. The company spent $428,230 on wind license development and had an unrestricted cash balance of $232,124 as of September 30, 2023.